Which of the following is true with respect to the General Fund?

Multiple Choice

The General Fund is considered to be a major fund if the combined total of assets, liabilities, revenues and expenses exceeds $10\%$ of the total of all governmental funds.

The General Fund is always considered to be a major fund when preparing fund basis financial statements.

The General Fund is considered to be a major fund when preparing fund basis financial statements if it bears a financial benefit or burden to the primary government.

The General Fund is not reported as part of the ACFR.